How much Energy Does Bitccoin Really use? – Bitcoints

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Published on May 17th, 2018 | by bitcoin

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How much Energy Does Bitccoin Really use?

How much Energy Does Bitccoin Really use?(Photo: Marko Ahtisaari/Flickr) Last year, as the price of Bitcoin surged above $17,000, environmentalists began to take note that the cryptocurrency’s energy consumption was likely to skyrocket as well.
That’s because Bitcoin mining—the process by which Bitcoins are created and transactions tracked in a public ledger known as the blockchain—requires electricity.
ADVERTISEMENTThanks for watching!Visit WebsiteADVERTISEMENTThanks for watching!Visit Website As machines mine for Bitcoin, they can produce as much heat as a space heater.
But Bitcoin mining companies are usually no more transparent about energy expenditures for cooling than they are about mining.
Today Bitcoin goes for about $8,500—less than half of its peak value in December of last year.

Source: Psmag.com

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